Tag: export

​ As overseas markets ‘lockdown’, China exporters look inwards
20Jun By Team FPNo Comments
Asia, China, Market

​ As overseas markets ‘lockdown’, China exporters look inwards

China exporters are now left in a crisis as the coronavirus hits its trading partners worldwide leading to cancelled shipments, returned goods and a dearth of new orders - accelerating a long-standing push towards domestic consumption.The world's second-largest economy is stirring back to life after virus cases dwindled from a peak in February, when activity came to a near-halt. But as China’s economy started to recover, lockdowns and restrictions in other countries has forced exporters to focus on domestic markets.Chinese online marketplace Taobao said the number of foreign trading companies opening stores on its domestic-focused platform spiked 160 percent from February to May.And policymakers - who have sought for years to wean the country off cheap exports and government spending in fa...
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China factory activity expands at slower rate as global slump drags on growth
1Jun By Michael SmithNo Comments
Asia

China factory activity expands at slower rate as global slump drags on growth

Factory activity in China took a big hit as official data showed that the industry expanded at a slower pace in May as the country attempts to get back on track after the coronavirus.China's factories have stirred back to life after the lifting of strict lockdown measures imposed when the virus surfaced in Wuhan, but the spread of coronavirus worldwide has dragged down key foreign markets - weighing heavily on Chinese exports.The Purchasing Managers' Index (PMI), a key gauge of activity in China's factories, was at 50.6 points in May, remaining above the 50-point mark separating growth from contraction each month.But the figure was down slightly from 50.8 the month before, and 52.0 in March, according to the National Bureau of Statistics (NBS).“The epidemic situation and economic situation...
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As overseas markets ‘lockdown’, China exporters look inwards
25May By Mike TrudellNo Comments
China, Market, Singapore

As overseas markets ‘lockdown’, China exporters look inwards

China exporters are now left in a crisis as the coronavirus hits its trading partners worldwide leading to cancelled shipments, returned goods and a dearth of new orders - accelerating a long-standing push towards domestic consumption.The world's second-largest economy is stirring back to life after virus cases dwindled from a peak in February, when activity came to a near-halt. But as China’s economy started to recover, lockdowns and restrictions in other countries has forced exporters to focus on domestic markets.Chinese online marketplace Taobao said the number of foreign trading companies opening stores on its domestic-focused platform spiked 160 percent from February to May.And policymakers - who have sought for years to wean the country off cheap exports and government spending in fa...
Read More